We welcome President Ramaphosa’s decision to show Nhlanhla Nene the door. We have consistently been calling on the President to act with speed in instituting a commission of inquiry regarding the Public Investment Corporation (PIC).
The Gupta scandal makes the exploitation of the PIC look like a Sunday picnic and the President should take immediate action so that the rot may be exposed.
We now know why Nene was dragging his feet when it came time for him to institute the PIC commission of inquiry. He was protecting certain individuals at the PIC, given the involvement of his son.
The United Democratic Movement (UDM) has consistently called upon President Ramaphosa to make certain that the cancerous tumour of corruption, that envelopes the PIC, should be cut out.
The UDM had, a couple of weeks ago, handed over our files on the whole PIC saga to Advocate Budlender SC which included the details of the Mozambican oil deal scandal. It showed the role of the PIC CEO and certain Fidelis Madavo in this mess.
The President’s focus should now be on publishing the terms of reference for the commission of inquiry and the appointment the commissioners.
The terms of reference for the PIC commission of inquiry should include all the questionable deals that went through the system whilst Nene was board chairperson. It would also be important to scrutinise any other suspicious deals that were approved by previous board chairpersons.